Status: 02.11.2022 10:39 a.m
In October, the number of unemployed fell by 43,000. The head of the Federal Employment Agency, Nahles, describes the development as “robust”. However, the “consequences of economic uncertainties” are already visible.
The labor market in Germany proved to be stable in October despite a generally difficult economic environment. The Federal Employment Agency (BA) in Nuremberg announced that the number of unemployed fell by 43,000 to 2.442 million in the course of the autumn revival compared to September. The unemployment rate fell in October compared to the previous month by 0.1 percentage points to 5.3 percent. According to the BA, it was around 65,000 higher than in October of the previous year; the unemployment rate in October 2021 was 5.2 percent.
BA boss Nahles sees “robust” development
BA boss Andrea Nahles described the development of the German labor market in the past month as “robust”. Above all, employment continues to grow, she explained in Nuremberg. However, the “consequences of economic uncertainties” are visible. More companies are currently preparing for possible short-time work and are reducing their demand for new staff.
Numerous gaps in the training market
According to Nahles, there is a growing gap between supply and demand on the training place market. “Never since reunification have the chances of finding an apprenticeship been so good. However, companies are finding it increasingly difficult to fill a position,” said Nahles. A total of 546,000 vocational training places had been reported to the Federal Agency by September 2022, 23,100 fewer than in the same period last year. This compares to 422,400 applicants, 11,100 fewer than last year. On September 30, 68,900 jobs were still unfilled and 22,700 young people were still unplaced.